Have you fallen victim to credit card fraud or other online fraud? Cybercriminals may have withdrawn money from your account, but by acting quickly, you can minimize your losses and take the first step towards justice. Every minute is precious after a fraud occurs. Learn the five most crucial steps you should take immediately to protect your funds and initiate legal action.
Block the Card Immediately
Once you discover fraud, your first and most important step is to block your credit card immediately. This step is crucial as it prevents fraudsters from making further transactions using your card. Using the bank’s mobile app or net banking, you can permanently block the card by going to the ‘Card Services’ or ‘Hotlist’ section. Call the bank’s 24/7 customer service helpline immediately.
This number is readily available on the back of your card or on the bank’s official website. If you are near a bank branch, go there immediately and inform the authorities. By taking this step, all unauthorized activities on your card will stop immediately.
Inform the Bank and UPI/Wallet Service Provider
After blocking the card, you should immediately provide detailed information about the unusual transaction to the bank’s fraud department. Call your bank and clearly state that you have been defrauded and that you did not make the transaction. Have them note the date, time, and amount of the transaction.
If the money was transferred through a digital wallet (such as Paytm, PhonePe) or UPI, you should also immediately inform that service provider. They can initiate the process of tracking and freezing that specific transaction. Also, send a written complaint to the bank via email so you have a record.
File a Cyber Crime Complaint
In cases of financial fraud, it is legally mandatory to file a police complaint. This strengthens your recovery process. You can file a complaint online on the Indian government’s official Cyber Crime Portal. The process is simple and quick.
When filing a complaint, you must carefully upload all transaction details, call records (if available), and screenshots of the fraudulent messages. Keep the complaint number you receive after filing the complaint carefully. Banks and investigating agencies process the information based on this number.
Keep all evidence safe
It is crucial to preserve all digital evidence to assist in your investigation. Take screenshots of all SMS, emails, and call logs (which contain the fraudster’s number) related to the fraud. Highlight fraudulent transactions reflected in your bank statement. Keep a copy of your cybercrime complaint and the email sent to the bank. This documentation will provide a strong basis for future interactions with the bank or police.
Get a New Card Issued and Change Passwords
Once your old card is blocked, immediately request a new credit card from your bank. Additionally, you should immediately change the passwords for all your important financial accounts (such as net banking, email, and other digital wallets). Set a strong and unique password that includes capital letters, lowercase letters, numbers, and special characters to prevent any future data breaches.
Taking these decisive steps without delay will not only protect you from major financial losses but also put you ahead in the fight for justice. Swift and systematic action is your greatest strength for successful recovery.